ChipMOS COMPLETES SALE OF 21.4% OWNERSHIP OF ChipMOS TAIWAN
HSINCHU, Oct. 8, 2013
HSINCHU, Oct. 8, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda)
LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider
of outsourced semiconductor assembly and test services ("OSAT"), today
announced the completion of its sale of 180 million outstanding common shares
of its subsidiary, ChipMOS TECHNOLOGIES INC. (Gre Tai Securities Market:
Ticker 8150) ("ChipMOS Taiwan"), at the price of NT$20.0 (US$0.67) per common
share. Approximately 22 million common shares of ChipMOS Taiwan were
purchased by the Company's management and the Board of Directors.
The transactions were completed on October 3, 2013. Pursuant to the terms of
certain share purchase agreements, 50% of the total shares purchased from the
Company are subject to a lock-up obligation and the remaining 50% became
freely tradable on October 4, 2013. Yuanta Securities Company Limited served
as the sole bookrunner for these transactions.
In aggregate, the sale reduces the Company's ownership in ChipMOS Taiwan to
approximately 523.4 million common shares, representing approximately 62.1% of
the outstanding shares of ChipMOS Taiwan, from a previous holding of
As communicated in prior press releases, the Company was required to reduce
its ownership interest to no more than 70% of ChipMOS Taiwan's outstanding
shares to satisfy eligibility requirements for listing ChipMOS Taiwan on the
Taiwan Stock Exchange. Shares purchased by the Company's management and the
Board of Directors are not included for purposes of meeting the foregoing
About ChipMOS TECHNOLOGIES (Bermuda) LTD.:
ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ:
IMOS) (http://www.chipmos.com) is an industry leading provider of
semiconductor testing and assembly services. With advanced facilities in
Hsinchu and Southern Taiwan Science Parks in Taiwan and Shanghai, ChipMOS and
its subsidiaries provide testing and assembly services to a broad range of
customers, including leading fabless semiconductor companies, integrated
device manufacturers and independent semiconductor foundries. The Company's
majority-owned subsidiary, ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), is
listed on the Gre Tai Securities Market under Stock Ticker 8150.
Certain statements contained in this announcement may be viewed as
"forward-looking statements" within the meaning of Section 27A of the U.S.
Securities Act of 1933, as amended, and Section 21E of the U.S. Securities
Exchange Act of 1934, as amended. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors, which may cause the
actual performance, financial condition or results of operations of the
Company to be materially different from any future performance, financial
condition or results of operations implied by such forward-looking statements.
Further information regarding these risks, uncertainties and other factors is
included in the Company's most recent Annual Report on Form 20-F filed with
the U.S. Securities and Exchange Commission (the "SEC") and in the Company's
other filings with the SEC.
In Taiwan In the U.S.
Dr. S.K. Chen David Pasquale
ChipMOS TECHNOLOGIES (Bermuda) LTD. Global IR Partners
SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.
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